General
High Electricity Tariffs Affecting Our Operations—Manufacturers
By Adedapo Adesanya
The Manufacturers Association of Nigeria (MAN) has stated that the high electricity tariffs are hindering the performance of the manufacturing sector amid disputed claims that an increment is looming.
The Director-General of MAN, Mr Segun Ajayi-Kadir, in a statement issued on Thursday in Lagos, stressed that electricity is a crucial input in manufacturing, significantly affecting production costs and product prices.
He emphasised that no nation could achieve substantial industrial development without ensuring energy security.
According to him, any increase in tariff will harm the competitiveness of Nigerian products and businesses, warning that the such would worsen production costs, intensify inflationary pressure, and further reduce consumers’ disposable income.
Mr Ajayi-Kadir added that it would increase manufacturers’ unsold inventory, erode profit margins, raise unemployment, and force more private businesses to shut down.
“It was due to the critical role of energy security in Nigeria’s industrial aspirations that the power sector was privatised in 2013.
“Unfortunately, this privatisation has not delivered the expected results,” he said.
The MAN DG noted that the sector struggles because operators lack both technical and financial capacity to ensure optimal performance.
He highlighted that Nigeria’s installed electricity capacity has consistently been around 10,000MW.
Yet, he noted, this capacity remains underutilised due to the limited ability of GenCos and DisCos to generate and distribute sufficient electricity nationwide.
“Despite failing to meet demand, there have been continuous tariff increases without a corresponding improvement in supply quality.
“According to the National Bureau of Statistics (NBS), electricity supply was 5,909.83GWh in Q2 2023 but dropped to 5,769.52GWh in Q1 2024 and 5,612.52GWh in Q2 2024.
“This decline followed the implementation of a tariff increase exceeding 230 per cent.
“This represents a 5.03 per cent year-on-year decrease and a 2.72 per cent quarter-on-quarter decline,” he said.
Mr Ajayi-Kadir noted that MAN has repeatedly called for an increase in electricity supply beyond the average 4,000MW provided daily to over 200 million Nigerians.
He stressed that Nigeria requires more than 30,000MW to adequately meet the growing demand from businesses and households.
The MAN DG urged the government to review the performance of DisCos following the recent tariff increase.
He called for a study on its impact on the manufacturing sector, businesses, and households.
He also urged the government to critically assess DisCos’ cost-reflective tariff model and audit their investment in distribution infrastructure.
The federal government, however, debunked reports suggesting an imminent 65 per cent increase in electricity tariffs.
The government clarified that its focus remains on improving power supply, ensuring targeted subsidies, and expanding metering nationwide.
General
NECA’s Annual Retreat for Business Managers, Executives Holds April 16
By Aduragbemi Omiyale
The annual retreat for business managers and executives organised by the Nigeria Employers’ Consultative Association (NECA) will take place from April 16 to 18, 2026, at the AAE & T Hotel, Kuto, Abeokuta, Ogun State.
This year’s edition is themed The Resilient Enterprise, People and Systems: Building and Managing Businesses that Outlive Seasons, Cycles and Crises.
The programme aims to equip leaders with the insights, tools, and networks required to build resilient organisations in an increasingly complex business environment.
It will provide a unique platform for executive-level engagement through high-level conversations, peer learning sessions with experienced leaders, strategy reflection workshops, and curated networking opportunities.
Expected to attend are industry leaders, senior executives, and business managers from across sectors. They will explore strategies for sustaining organisational performance through leadership transitions, economic cycles, regulatory shifts, and market disruptions.
Participants will also benefit from interactive discussions focused on strengthening corporate governance, developing agile leadership capabilities, and building organisational systems that can withstand periods of uncertainty and transformation.
A notice from NECA said the event is open to both members and non-members, with participation fees set at N300,000 for members and N320,000 for non-members. Discounts will also be available for Gold and Silver members, subject to applicable terms and conditions.
Interested participants are encouraged to register via the official registration link to secure their place at the retreat, which promises to deliver valuable insights and connections for executives seeking to build enterprises capable of thriving through seasons of change and uncertainty.
The Director-General of NECA, Mr Adewale Smatt-Oyerinde, noted that by convening business managers and senior executives in a collaborative learning environment, the association aims to contribute to the development of stronger, future-ready enterprises that can drive economic growth, create jobs, and support national development even in the face of evolving global and local challenges.
He added that the retreat will provide executives with the opportunity to step away from daily operational demands and engage in deeper strategic conversations with peers and industry experts.
“The theme of this year’s retreat speaks directly to the realities businesses face today. Across sectors, organisations are navigating leadership transitions, regulatory shifts, economic pressures, and technological disruption.
“What distinguishes enduring enterprises is their ability to build strong systems, develop capable leaders, and create organisational cultures that can adapt and respond effectively to change,” the NECA chief said.
General
Egbin Power Commissions 80 New Staff Housing Units
By Modupe Gbadeyanka
In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.
This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.
The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.
This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.
The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.
This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication
“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.
“This significant expansion of our residential estate is a tangible expression of that commitment.
“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.
Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.
General
NGX Group, CSCS, WIMBIZ to Ring Bell for Gender Equality
By Aduragbemi Omiyale
On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.
The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.
In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.
Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.
NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.
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